tv MONEY With Melissa Francis FOX Business November 11, 2014 2:00pm-3:01pm EST
way to work. cheryl: no kidding, jo ling kent, thanks for the tip on music. >> thanks. cheryl: haste it for us -- that's it for us here in the studio. sending it over to melissa francis. thank you. melissa: political tag-team. leaders of china and russia taking turns undermining our president on the world stage. honoring those who serve our country. corporate america steps up for jobs for our nation's veterans. robo karate kid, terrifying two-legged giant developed by google. it can walk, run, climb, and even recreate the classic movie pose. running on the beach to cruising in her ice cream truck, "baywatch" star nicole eggert talks about her new cool career. even when they say it's not it is always about money. melissa: president obama walking
a tense diplomatic tightrope in china watching as influence over russia grows weakening by the second. vladmir putin going in search of a dance dance partner and finding one in china's she. >> ping. they are getting. xi xinping. despite reports of a brief meeting, apparently not a lot of love lost between president obama and putin. here to discuss all of it, james from "wall street journal." jack how much, senior editor at "barron's." james frischling of new oak. i will let you go first since you're new to the panel today. what do you think of all that? small conversation on the sidelines. 15 to 20 minutes one of the representatives said. i can only imagine what went on between putin and obama. >> that sound like a long time at least for mr. obama. obviously what is happening here, both russia and china and especially russia are taking advantage of the perception of american weakness and retrenchment to strengthen their
own positions globally. there was bad theater for our president as well. this business about the gum chewing is just kind of hilarious. he got out of his limo chewing what is assumed to be nicotine gum. and, people in china, where if you beijing, people spit all over the place. not most high againic place. melissa: they don't chew gum. >> one blogger wrote, he must have been nervous. if kim jong-un were here there would be no gum chewing. melissa: my goodness. they sat very far from each other. jack, the body language was everywhere. you know, he is not getting a lot of respect on the world stage. >> russia is on a bizarre path. speaking of kim jong-un, he seemed to be borrowing from north korea's playbook, paranoid statements about the west. crackdown on dissent at home. absolutely nothing to get the economy rolling. his bad governance was masked before by a high oil price. no longer. i think russia is in deep trouble. melissa: at the same time, james, you know, china's out
there showing off a new fighter jet. it is the j-31 stealth aircraft. it is seems to be like the f-35 although nothing was supposed to be like our f-35 s this worrisome? >> definitely attractive to the folks on do not, can not buy list from the u.s. melissa: good point. >> since financial crisis, kind of european zone, the atlantic has become somewhat secondary to the pacific. not surprise, russia is courting china. to a certain extent we might do a better job as well. that is very important alliance forming as kind after threat to or, a challenge to nato. >> profit margins on those planes are a lot higher when you're only one selling them. melissa: that's a good point. apple getting up in one rival's business, planning to invade microsoft's turf by conquering the corporate world. jack, do they have a shot here? >> if they can follow the model they have done with the iphone and mac, which is basically give away the software.
get people hooked on ecosystem and make money on hardware, sure. think about what this means for i.t. departments? right now they make their money on everything being so complicated, marriage of hardware and software. it goes away, spells smaller i.t. departments. melissa: i.t. departments in big countries around the world, all of sudden giving out iphones. put them in the ecosystem. not too long ago that was unheard of. >> that is because of decline of blackberry. in my own company i recently lost my blackberry, or it died -- melissa: it dived and they hadn't made another one in five years. you had to get something else. >> iphone and samsung. i took samsung because it seemed to be more cape ab. i wonder if apple is a good match for the corporate market in this sense. apple's strength is aesthetic, experience, beautifully designed. it is like a religious experience for people. corporate customers for the most part are looking for efficiency and cost effectiveness. i wonder how apple makes that.
>> tim cook might have to wear a tie. melissa: that will never happen. women in the u.s. more pessimistic about the job market than their male counterparts. new poll from gallup finds 64% of the women think it's a bad time to look for work. this is compared to 56% of men. that differential more than any other developed country in the, in the nation, developed nation, except germany. i finally got that out. what do you think about that james? >> yeah. i thought about the 8-point gap in the states, here in the u.s. 11-point gap in germany. different stud study said of entrepreneur, women owned firms, 60% positive versus men at 50%. one of my takeaways, women surveyed don't want to work for hate to say it the man. they own their own business. much more positive outlook than male-owned small companies. melissa: really interesting. random survey, done by gallup. in the last recession they called it the man session, so many men out of work than women.
interesting now that it flipped. women are having hard time thinking there is another job out there for them. >> i don't love to explain this to you. i don't know anything about women. stock market, all day but women? >> you want to take a shot at it? >> women are more risk-averse as men. women might be more hesitant to look for new jobs. entrepeneurs is interesting. that may reflect selection bias, women particularly at risk-seeking become entrepreneurs more so than men. another thing there is long-term trend, gradual decline in male labor market participation and a large increase, plateau in female labor market participation. melissa: right. >> a lot of that is because dramatic social change started in the '60s, as a result of which, as a result -- melissa: maybe saturated now. >> also women have to work much more than they did a few decades ago. that may contribute to this. >> you know a lot about this. melissa: wall street selling
alibaba on back of some huge sales. e-commerce giant cashing in on loneliness, making more than $9 billion on singles day. 2 billion of that coming in the first hour. so they made $2 billion in the hour just for perspective. other companies takes an entire quarter to make two alibaba made in two hours. mattel, ralph lauren, hershey, hershey of all places takes them a whole quarter to make $2 billion. expedia, jetblue, netflix. jack, this is an astounding number. >> they call this the anti-valentine's day. that is absolute nonsense. this is for singles. singles looking to meet other singles in country where more men seeking fewer women. you have to spend to impress. >> this, they have created largest online shopping day. blows away cyber monday and black friday. 45% of the sales done on mobile devices which i thought was interesting takeaway. >> this is in main mainland china, right?
i thought they were supposed to be communists? melissa: they're consumers what they are, turns out. if you got $4.5 million and a product to sell, nbc needs you. the network admitting it still hasn't sold all of the super bowl commercial space. that could have something to do record price tag for a 30-second spot. jack, what do you think about this one? i think some of these companies are maybe waking up to the fact that it is a lot of money for not a lot? >> really hard to figure out what you get for this. melissa: yeah. >> keep in mind, you get more than the commercial. you get news reports with people talking about who is advertising and so on and so forth. i think people are doing math saying maybe this higher price tag -- melissa: $4.5 million for 30 seconds. >> there has been a general softness in television advertising. super bowl is unique place but again they raised their price by 12 1/2%. they will still sell out but certain companies are backing away because maybe some of image issues of nfl. melissa: that is a great point. do you think that is part of it?
does it have anything to do -- >> you understand women very well. what have you got? >> i wonder if crucial numbers might be 43 and 8. that was the score of this year's super bowl. melissa: okay. >> we've had succession of very close and exciting super bowls. melissa: everybody was so excited about super bowl. >> you but it turned out to ablowout like super bowl from '80s which denver broncos lost one or two of those, most watched show in tv history, 111.5 million viewers. >> i wonder which spots they have sold. turn out ones they are having trouble selling is end of the fame where they may anticipate tuning out if there is another blowout. melissa: maybe. a lot of old sponsors dropped out. they have gotten a few new people. jack, worth it, not worth it? >> well, i'm not -- melissa: you don't have $4.5 million red did he to go? i thought we would do a commercial here and put it on during the super bowl, no? >> they will sell out haven'tly. it is taking a little longer.
melissa: usher's new song will only be available at the a walmart at bottom of at box of honey nut cheerios. no truth to the rumor that it will appear in a packet oatmeal. what do you think, james frischling. >> itunes, jamming us with a u2 album but usher is getting paid. >> i don't understand the crossover. you have to go to walmart. once you get to walmart you have to buy honey nut cheerios. >> honey nut. not regular or cinnamon. melissa: when you hunt to the bottom of the pox you finally get usher's song? my kids eat honey nut cheerios. i don't think they know who usher is. deferral haven't been to walmart. we don't have one in the city. does this crossover make sense to you? >> i think this is maybe encouraging health news because people are realizing that the health guidelines the government gave us we were supposed to avoid fats and eat a lot of carbs were wrong. melissa: what does that have to do with usher. >> honey nut cheerios, filled
with sugar and starch. maybe becoming harder to sell that. so they have to offer this inducement. melissa: guys, thank you so much. google spending a billion bucks on this old nasa hang far. but for what? -- hangar. hope it won't be total buzzkill like the barge on the bay. remember that one? architect of obamacare deceiving, quote, stupid voters to pass the health care law. you can't actually make this stuff up. more "money" coming up. ♪ could protect you from cancer?
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melissa: hard to believe, but new video after key architect of obamacare says voters were stupid for passing it. fox business's rich edson is live with more. we love being called stupid, rich. >> hmmm, i don't think we do. melissa: no. >> mit professor, jonathan gruber, helped develop obamacare and massachusetts health insurance law named after former massachusetts governor, mitt romney, romneycare. he says voters ignorance about the details helped stifle political opposition for congress to pass night this bill
was written in tortured way to make sure the cbo did not score the taxes. it was huge political advantage. basically called the stupidity of the american voter or whatever, basically this was really, really critical to get the thing to pass. >> just another of gruber's controversial statement about the law. he also said congress designed obamacare to offer insurance subsidies only to americans living in states with state-run health insurance exchanges. that is what the law's opponent charge in a case at the supreme court will hear. if the court affirms gruber's argument, he is supporter of the law, millions would lose obama care subsidies. also during the 2012 election he claimed obamacare was based off romney care, difficult political assertion for former governor mitt romney as he tried to distance himself from romney care similarities with obamacare. melissa. melissa: oh, sigh. rich, thanks so much. for more let's go to the panel. economist peter morici joins me along with jack hough.
peter, lack of transparency a a huge political advantage. call it the stupidity of the american voter but basically that was really, really critical to getting this thing passed. how do you feel about that? >> i think gruber is trying to shuck off responsibility as one of the principle authors of something is a terrible mess. reality through american voters through town meetings, senate election in massachusetts, through every way conceivable by the words of senator mccain, running up to the vote in the congress, tried to make it clear to the administration they did not want this thing. this was never popular in the beginning. voters could see that you couldn't possibly take 1/6 of the u.s. economy, promise people the moon and not have a lot of fallout. to blame american voters? that's silly. melissa: i don't know. we were out there day after day, if you just dot simple math and you add all of these people to the system, it is going to be a huge cost to everyone involved because nothing in life is free. it seems like people wanted to ignore that. jack? >> you know, i don't disagree
with you about this plan being a mess. i'm no fan of obamacare. one difference is, i blame everyone. i blame republicans too. republicans knew full well that we had unsustainable system before with millions of uninsured. >> that's right. >> families going bankrupt because of big health care bills. that is not something we could have kept going. where was the alternate plan? melissa: well, i don't know, peter, it would be hard to argue that we're not worse off now though? >> i think we are worse off. it is going to be much more difficult to unwind this thing than to work with what we had before. the problem with the republicans is that, they really don't see that the system was dysfunctional. that we didn't have the competitive system. they keep saying we have the best health care in the world. that is absolute nonsense. germans pay a third less than we do and get better outcomes and everybody is covered. they are really to acknowledge health care is real market and set of marketplaces. they skillfully regulate prices in a way that encourage as
reasonable amount of competition but put as lid on things. they don't let health care executives pay themselves 10 and $20 million a year. they don't let the drug manufacturers extort their version of medicaid care with absorb tant prices. they know how to handle this thing. we should take a hard look. why does a hip replacement so much more in the united states and that people without health insurance and fly to amsterdam an belgium to get it done and get it cheaper even with the air fare and wife and husband staying in hotel room? melissa: jack, last word. >> that is the exact point. costs of her health care system is out of control. best health care if you have a good insurance plan, money your pocket you're fine. we need to acknowledge, health care is not ordinary economic good. everyone demands for care of a loved one is infinite with regards to price. people will pay until they can't pay anymore. they will borrow and then they will steal. melissa: we've got to go.
thanks to both of you. markets turning down into the red but not before hitting all-time highs. nicole petallides on floor of new york stock exchange with more on that one. what is driving the trade, nicole? >> with less than two hours to the close what is dragging the trade is uncertainty. we have back and forth. we've run up. if we were to close at a record once again, fifth day in row doing exactly that. the 24th of this year, 2014 for dow jones industrial average. it really tests new highs and pulling back a little bit. we did see the dow up about 25 points. right now down about eight. we'll see if there is record close. look right here. showing you travelers, nike, 3m. they are slightly lower by some pennies there, for travelers in particular. but they all three hit lifetime record highs today. so, last couple of hours trading they will be busy. back to you. melissa: look forward to it. nicole, thanks so much. giving you inside scoop, former "baywatch" actress nicole eggert
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>> i'm blaming retailers for all of those hats and mitts and gloves and christmas music out early. it is their fault! melissa: yes. >> look at the 24-hour temperature change. can you believe it? 53-degree drop in 24 hours in garden city. pueblo, colorado, there was a place in colorado, near colorado springs that dropped 30 degrees in one hour. that is an arctic cold front. there are your current temperatures. 8 in rapid city. 21 in north platt. this is 40 degrees below what they should be this time of year. this is quite impressive. with the wind feels like minus 14 in casper. six in north platt. seven in garden city. you get the picture. this is typical for january, not november. along the front range of the rockies, 20 to 30 degrees below average and will move eastward and southward. thursday we see temperatures
drop 10 to 20 degrees below normal this time of the year. watch wednesday, thursday. these are lows into friday. just continues to drop all the way to the gulf coast. and we'll start feeling it here across the east coast and, melissa, we could even get colder in following weeks. melissa: come on now, ah. >> go to miami. melissa: or the bahamas. we'll make plans after the show. janice dean, thanks so much. from the beach to big business, a former "baywatch" star is turning in her red swimsuit for a new career. here is actress and founder of the scoops ice cream truck, nicole eggert. welcome to the show. thanks for coming on. >> hi, thank you for having me. melissa: so everybody in the world knows you from "baywatch." also "charles in charge." when they come up to the truck, are they surprised to see you? or is that part of the lure? >> well, we mostly are doing private parties and events right now. so, they know and we've had conversations before i get there. not that big of a surprise.
melissa: how did you come up with this good idea? the food truck industry is booming. it is popular independent business to get into. makes about $800 million right now. how did you decide on ice cream? >> well i didn't really see any ice cream strucks out there. i saw soft serve and prepackaged obviously. i started to see more dessert trucks pop up. planning birthday parties, being a mom, i always wish i had fancy of a cute ice cream truck pull up and it didn't really exist. melissa: how's business? >> it is great. i think we got a lot of press from me being an actress. so we got at love, of great free publicity. so we've been booked solid. melissa: you've been dealing with commodity prices. this show is called money. we would like to focus on the dollars and sense of the business. milk prices are up 7% this year. sugar prices are higher. are you seeing that? are the costs of your products going up?
>> well, by the top of the line so i am paying a lot. we've only been running 2 1/2 months, so far no, my vend score hasn't raised any prices on me. melissa: winter is coming around. this is one of the problems people have with the trucks is season alty of it. i hear you have a special plan for the winter to keep things going? >> let's hope we have winter here on the west coast. finally seeming to cool off a little bit. last year i don't think we even saw winter. yeah, we'll do more of hot chocolate with the ice cream and coffees and serve hot beverages with the ice cream. melissa: sounds delicious. >> and change it. yeah. melissa: what is the best-selling item and business selling flavor? what are you known for? >> people really, really love root beer floats. it is oldie but goodie. cookies and cream and rainbow sheesh better are big, big sellers -- melissa: do you plan to expand
after this? maybe a bigger idea or different truck. >> i don't know about different idea or bigger truck. i been approached to put more truck out there to spread across-country. i want to come up with a winter truck. we're designing a logo and everything for that right now. so, we'll see. we'll see how it goes. before i do it, before -- melissa: go ahead. >> franchise, before i you know, franchise i want to make sure we have both summer and a winter menu and you know, program going. melissa: no doubt. i know you made almost your original investment back and your 15-year-old daughter is involved as well. congratulations to you. seems like business is going well. thanks for coming on. >> yeah, thank you for having us. >> devastating pictures out of hawaii as the lava flow burns down one home. in less than an hour. plus google unveiling its latest robot. it can do a karate kick with just one leg. that is just showing off. i need you to follow me
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it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. melissa: google shelling out more than a billion dollars for an old nasa hangar in silicon valley. off the hook for $6 million it takes to keep it running each year, but what is google doing behind the massive closed doors? joining me now, back as well. the nasa spokesman says planetary adventures, the shell company google runs that does all of the space programs, plans to use the hangar for research, testing, assembl simply end dept of new technologies related to space. what do you think is going on?
>> they have been talking about putting in satellites, lot of satellites around the earth to bypass the carriers and provide internet connectivity with emerging countries and bypass this whole net neutrality thing going on in the u.s. elon musk is going to try the same thing. it would not surprise me if they eventually partnered. i would expect some of their aerial drone efforts to make it over to the facility which would be terribly handy to do some of the research, they might have a launch platform more closely related to drones, low altitude to orbit launches than actually using it. melissa: that is one of the things we all think. we also know google has their own fleet of jack's, none of them wants to fly commercial, this airstrip right here, not
any of us want to, but some of us have to. >> when i look at this, i wonder what they're doing as well with all that space. look at aviation like you mentioned, robotics google is doing a lot in and out of the driving car. the whole race is heating up, the other side of it is it could simply be a real estate play. real estate as we know it is expensive. melissa: there is new video emerging of the latest creation called atlas, so it could do a karate kick on one leg, there it is not being knocked over. we have studied this video, are you intimidated by this thing? >> if there is one position i
have held for a long time, i am against teaching robots karate, why are we doing this? why teach them karate? melissa: they sit as has been built to fight, can stand on one of two legs moving at the speed of a cheetah with the entrance of a horse. i am terrified. >> it also has a very long cord connecting it to something. that will cause a really interesting confluence of events when the cord runs out. they do have a military grade robotics company that purchased, this would have a number of applications both in terms of carrying equipment and robotic soldiers which they have it working on for years good is kind of of cool. melissa: there is the other galloping dog they had going as
well, so they definitely have that. talk about creepy. what do you think of google's robots? they are obviously coming for us. >> they are. how long before we see arnold schwarzenegger face on these guys. if we look at robots, look at what a number of hotels are doing and other companies, we are seeing more and more uses for industrial robots. >> absolutely. >> the sony robots became a symbol of many blown on things that did not belong anymore. melissa: i am sure money will be made t replace jobs in this country. thank you so much for joining us, we appreciate it. data on all of those who serve the country, what better way to salute veterans than to getting hired. plus, joseph gordon levitt
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been cured and released from the hospital. the last case in the country yet hundreds of other americans remain under observation. giving way discounted gift cards to make sure you sto shop in its stores. offering 10% off but you have to go in on black friday in order to get one. more than 500 million facebook users have signed up with the messenger app but that does not mean it is any more popular. the rating in the store is just 1.5 stars. many users felt they were forced to download it. that is the latest from the fox business network, giving you the power to prosper. [ breathing deeply ]
to quit selling cigarettes in our cvs pharmacies. now we invite smokers to quit, too, with our comprehensive program. we just want to help everyone, everywhere, breathe a little easier. introducing cvs health. because health is everything. melissa: it is veterans day andn time to honor those who served in our country. many stepping up to show appreciation for our military. adam shapiro live an applebee's in new jersey with more. >> that is right, several nationwide offering meals to veterans and active-duty personnel but sometimes they come with a restriction a free meal all day long expect a million meals nationwide. they have had people coming five years in a row, six years they
have done that. you were telling me the busiest day of the year coming of customers who have been here since the first time they ever did this. what keeps them coming back? >> they know we are dedicated o the different heroes. >> it is busy and it will be this evening, what is it about applebee's because some have restrictions good why the whole day? >> they are not just veterans from 8:00 to 12:00, they are veterans all the time. >> what are they saying to you and your staff? >> the thing i like most about what we do for them and what they are saying is they have a chance to meet the local veterans, they come here and celebrate and talk about this story in where they are coming
from and they love to share that with us. >> we met world war ii part of the afrika corps. when you see somebody like that coming through the door, what do you think of what they have done for all of us? >> it makes me feel good to work with a company that has his people come out for our day. to have them share the story with me, it really makes us feel get we can give back. >> thank you very much. the veteran was telling me freedom is not free, but the meal is. back to you. melissa: first data lending those who want jobs. with other major employers. 100,000 jobs mission to help vets. with me now, frank along with senior vice president of military and veteran affairs.
thanks to both of you for joining us, we appreciate your service. what was the biggest challenge that surprised you about getting back into the workforce when you came home? >> i had this background in skill set and i didn't know how to apply it. this is how i can lead people, this is how i can see the next problem coming. that is hard to translate when you haven't used civilian terms before. melissa: sounds like something almost any office can use, anybody who has the company. how did you translate that into what you really wanted to do? >> having the ability to react, seeing down the road having leadership skills, being able to be part of a team and step up when you need to, those are the skills you can get in your military experience leading into the private sector.
i use the g.i. bill, cap a phd in public administratio administration. it is easier sometimes when he was deployed. moved over into the private sector. melissa: you're doing something very special for veterans. a lot of people are hiring veterans today, to me it is logical be at group of people who come with a work ethic, but your kind help veterans going into business for themselves. >> we partner with syracuse university which has the veterans and military family institute, it is really designed on how to help veterans become entrepreneurs. we set up a boot camp with 300 veterans partnering with a number of schools. he is driven the effort but how do we take those skills and help
people run their business? we have this tremendous opportunity. today in fact what we went out and did was offer free processing for veteran owned businesses. it is a commitment to veterans. i would like to say she is very, very modest, she started a not-for-profinon-for profit than tremendously. they are tremendous and unparalleled. melissa: what advice would you give to those watching the show looking for work and getting discouraged? >> there is a veteran in every person across the country. use their network from their prior experience in the military, community network and think about our employment opportunities and solutions not only employment programs but also entrepreneurship opportunities because we know about a fourth of veterans
transitioning out like to start their own businesses and we would like to help them do that. melissa: i love that. >> have a great veterans day. melissa: let's check in with liz claman to see what she has coming up. melissa: we're looking at the shadow inventories of foreclosed homes that have been sitting on many facebook's. taking a foreclosed homes and said we're putting him to work in a most unusual way. coming up in a fox business exclusive, over at jpmorgan managing director of military and veteran affairs, what they have done is generous beyond belief but more importantly taking it a step further. wait until you see how these homes have been transformed for some of the veterans who need it most. we all watched the housing market how they're moving
through the market, as we look at the market, either way the indexes are very close to all-time highs. are you a bowl or a bear? from both sides. says i have to stay away. very interesting, one of them is going nowhere near stocks, one of them love them. you can decide to be at and more breaking news, we're working on it right now involving hank greenberg, he is now narrowing the window according to sources when he might be called to the witness stand and what will the strategy be. have some breaking news coming up in just a minute on the $40 billion bailout. melissa: look forward to it, thank you so much. looking for ae-of-a-kind gift for those with a bottomless wallet? wallet? and most outrageous holiday gifts, plus find out the one at
melissa: weather is on wall street or main street, here's who is making and losing money today. continental resources ceo has been ordered to pay out a billion dollars one of the biggest awards of american history. now getting just 4% of her husband's total fortune, much lower than a standard 25-30% other billionaires divorcees have received. now, it has got to be the job. this is the for jumping, but those with very deep pockets we
have a few he most outrageous one of a kind present. you have some very cool things on the set pretty much one of a kind but the thing that really caught my attention, temporary breast implants were on your list. >> they injected the last 24 hours, 2500-$3500, just get permanent fake ones for that. melissa: that is legal? >> 100%. melissa: it is a popular item? >> i guess, 24 hours. who knows. melissa: $4.5 million lamborghini. >> one of the most extensive car in the world, which i think is
pretty cool, pretty fast. melissa: i see a couple have been sold, one listed 7.4 million so obviously they go up value rather than down. >> the luxury market is absolutely back. people are spinning like crazy, it is amazing. melissa: you can give the gift of having your own personal chef at home. they will come and do a party for 25,000-$45,000. a lot of people getting really expensive stuff this year. >> the luxury market is absolutely spending. but then have some kind of cool. melissa: we have to go, but i will take a look, thank you. one home in hawaii immediately burnt to the ground as a slow but imitating lava makes his way toward civilization. a top wal al qaeda expert on the ground talk about what could
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>> after four and a half months, the 2000 degree river of lava plaguing hawaii's big island claimed its first home. the next one is only half a mile away. let's go to the hawaiian volcano observatory. it consumed the home in 45 minutes. firefighters were standing by. what was that like, mike? >> it's reminiscent of the things that happened back in 1990 and especially 1990 and throughout in eruption, we've seen homes destroyed by lava. it's sort of a sad moment to see the house ignite. >> what's next? i mean, it's on the move, it's slow-moving so people get out of the way, but the destruction continues. what's next? >> yeah, the hazard is not so much in terms of people not being able to move out of the way, you know, this flow does
move quite slowly. but it's all very inevitable. the flow is headed downhill. it's just going to keep going until the source stops feeding lava to the flow. we don't see signs of that happening so it's going to keep progressing and it's any way that it will be covered or destroyed. >> it's an active volucanvolcan it's been going on and this flow could continue for 30 years in particular. why now? >> well, we had some changes back in june, especially, that caused the flow to move off to the northeast from its source. it had as been going to the south, which sends it into the ocean or most of the 32 years of the eruption. but the change signals that the lava now headed in this direction toward populated areas, very densely populated areas for this island and we don't really know why it started off in this direction, but this eruption has sort of behaved chaotically at times and the lava flows in different
directions at different times. this is one of them, unfortunately. >> mike, thank you so much. the pictures are incredible and we'll keep an eye on the story. thank you, we appreciate your time. that's all that we have for you right now. i hope you're making money today. the market is down 16. here is liz claman. liz: we will take it, melissa. we have breaking details in the landmark trial that has forced some of the biggest players in the american financial system to testify in a 40 billion dollar trial. we know that the window was narrowing on the timing of the former aig appearance. plus, what the government's tactics might be, it's a fox business exclusive that has the financial world riveted. we took the lead reporting that first ebola case in new york city. dr. craig spencer, he's the doctor that returned from west africa and tested positive for ebola, he's been declared virus-free. he left the new york city hospital today. we've got more details.